UAE-based Lukoil Marine Lubricants Middle East, a subsidiary of Russia’s Lukoil Oil Company, has signed a guaranteed three-year contract with Oman Shipping Company (OSC).

The recent signing took place at the Amwaj Rotana in Jumeirah Beach Residence and the parties involved in the signing of the agreement was June Manoharan, director, Lukoil Marine Lubricants and Ibrahim Bakhit Al Nadhairi, technical director, Oman Shipping Company, said a company statement.

The deal provides OSC the option of extending the partnership an additional two years to ultimately bring the agreement to a total of five years, granted the company finds Lukoil’s supply services satisfactory.

As per the contractual obligations, Lukoil’s supply shall cover OSC’s fleet of 39 vessels consisting of very large crude carriers (VLCC), product tankers, chemical tankers, LPG carriers, very large ore carriers (VLOCs) and bulk carriers.

Also in attendance was Captain David Stockley, chief operations officer of Oman Shipping Company, said: “Our business relationship first began five years ago and since then it has blossomed through trust and respect into a solid partnership which has proved to be beneficial for both companies.”

“From the moment we partnered in 2014, Lukoil Marine Lubricants has demonstrated extreme professionalism through repeatedly providing Oman Shipping Company with reliable products and services, a major factor which swayed our decision of rightfully awarding them this contract. As we move forward, we are eager to develop our relationship even further in the next five years,” he added.

Ibrahim Bakhit Al Nadhairi, technical director of Oman Shipping Company, said: “From a technical standpoint, we continually seek out new methods of optimising our operations and with the assistance of Lukoil Marine Lubricants, we have been able to increase savings as it pertains to both maintenance and lube oil.”

“Lukoil has exhibited outstanding operational and technical service and supported our company’s global vision with their firmly established expertise in lubricant technology. This agreement comes at an opportune time as we seek to find alternative ways of elevating the status of our fleet’s reputation with 2020 just around the corner,” he added.

June Manoharan, director of Lukoil Marine Lubricants, said: “Today is a momentous day for our company as we have successfully reached an agreement to continue building upon our long-term relationship with Oman Shipping Company with the intent of heightening their already reputable fleet.”

“Although we specialise in the production and marketing of marine lubricants, we also pride ourselves in serving our clients to the utmost standard and in this case, we are excited to see that our efforts have been appreciated. Oman Shipping Company has shown great trust in allowing us to continue supplying their vessels,” she added. – TradeArabia News Service